PRINCE2™- Business Case Assignment

<Insert Project Name> Created/updated 28/08/24
PRINCE2™- Business Case
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Business Case <Insert Project Name> Created/updated 28/08/24
Overview
Purpose A Business Case is used to document the justification for the undertaking of a
project, based on the estimated costs (of development, implementation and
incremental ongoing operations and maintenance costs) against the
anticipated benefits to be gained and offset by any associated risks.
The outline Business Case is developed in the Starting up a Project process
and refined by the Initiating a Project process. The Directing a Project process
covers the approval and re-affirmation of the Business Case.
The Business Case is used by the Controlling a Stage process when assessing
impacts of issues and risks. It is reviewed and updated at the end of each
management stage by the Managing a Stage Boundary process, and at the
end of the project by the Closing a Project process.
Contents The Business Case should cover the following topics.
Executive Summary..................................................................................................3
Reasons.................................................................................................................... 3
Business Options......................................................................................................4
Expected Benefits.....................................................................................................4
Expected Dis-benefits...............................................................................................4
Timescale..................................................................................................................4
Costs.........................................................................................................................5
Investment Appraisal.................................................................................................5
Major Risks...............................................................................................................5
Advice The Business Case is derived from the: Project mandate and Project Brief –
reasons; Project Plan - costs and timescales; The Senior User(s) - expected
benefits; The Executive - value for money; Risk Register and Issue Register.
The Business Case can take a number of formats, including: Document,
spreadsheet or presentation slides; Entry in a project management tool.
The following quality criteria should be observed:
 The reasons for the project must be consistent with the corporate or
programme strategy
 The Project Plan and Business Case must be aligned
 The benefits should be clearly identified and justified
 It should be clear how the benefits will be realized
 It should be clear what will define a successful outcome
 It should be clear what the preferred business option is, and why
 Where external procurement is required, it should be clear what the
preferred sourcing option is, and why
 It should be clear how any necessary funding will be obtained
 The Business Case includes non-financial, as well as financial, criteria
 The Business Case includes operations and maintenance
costs and risks, as well as project costs and risks
 The Business Case conforms to organizational accounting
standards (e.g. break-even analysis and cash flow
conventions)
 The major risks faced by the project are explicitly stated,
together with any proposed responses.
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Business Case <Insert Project Name> Created/updated 28/08/24
Executive Summary
(Highlight the key points in the Business Case, which should include important benefits
and the return on investment (ROI))
A project of implementing practice management system has been taken. This is done to
improve the efficiency of service and delivering services on time. The main benefit of
undertaking this project is it will enable in making operations automatic. This will result in
serving large area and generating more revenue.
Reasons
( Defines the reasons for undertaking the project and explains how the project will enable
the achievement of corporate strategies and objectives)
The main reason for this project is to improve efficiency of staff and services.
Moreover, to automate operations so that services are delivered in time. With help of it,
optometrist will treat more patient and resolving several issues. Thus, objective of improving
efficiency can be enhanced.
Business Options
(Analysis and reasoned recommendation for the base business options of: do nothing, do
the minimal or do something)
There are various business options that are available. The services can be delivered
online via mobile application. The patient can take appointment on mobile app and
optometrists can deliver it accordingly.
Expected Benefits
( The benefits that the project will deliver expressed in measurable terms against the
situation as it exists prior to the project. Benefits should be both qualitative and
quantitative. They should be aligned to corporate or programme benefits. Tolerances
should be set for each benefit and for the aggregated benefit. Any benefits realization
requirements should be stated)
The qualitative benefit is improvement in efficiency of business function and delivering
services in optimal time.
The quantitative benefit of project is serving more patient and generating more profits.
Expected Dis-benefits
(Outcomes perceived as negative by one or more stakeholders. Dis-benefits are actual
consequences of an activity whereas, by definition, a risk has some uncertainty about
whether it will materialize. For example, a decision to merge two elements of an
organization onto a new site may have benefits (e.g. better joint working), costs (e.g.
expanding one of the two sites) and dis- benefits (e.g. drop in productivity during the
merger). Dis-benefits need to be valued and incorporated into the investment appraisal)
The automation of business functions may lead to rise in cost of maintenance of technology.
Moreover, system failure can result in ineffective deliver of services.
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Business Case <Insert Project Name> Created/updated 28/08/24
Timescale
( The period over which the project will run (summary of the Project Plan) and the period
over which the benefits will be realized. This information is subsequently used to help
timing decisions when planning (Project Plan, Stage Plan and Benefits Review Plan))
Task Name Duration Start Finish
System analysis and
requirement 1 mon Fri 10/25/19 Thu 11/21/19
System design 25 days Fri 11/22/19 Thu 12/26/19
Development 35 days Fri 12/27/19 Thu 2/13/20
Testing 28 days Fri 2/14/20 Tue 3/24/20
Implementation 40 days Wed 3/25/20 Tue 5/19/20
Maintenance 22 days Wed 5/20/20 Thu 6/18/20
Costs
( A summary of the project costs (taken from the Project Plan), the ongoing operations and
maintenance costs and their funding arrangements)
The overall cost for this project will be $2000.
Investment Appraisal
( Compares the aggregated benefits and dis-benefits to the project costs (extracted from
the Project Plan) and ongoing incremental operations and maintenance costs. The analysis
may use techniques such as cash flow statement, ROI, net present value, internal rate of
return and payback period. The objective is to be able to define the value of a project as
an investment. The investment appraisal should address how the project will be funded)
The project will be funded through bank loan. It is because there will be consistent cash flow
and also payback period is long in loan.
Major Risks
(Gives a summary of the key risks associated with the project together with the likely
impact and plans should they occur)
The are certain risk that can occur in project.
Failure of system – it will highly impact on overall project.
Security of data and information- it is likely to occur within project.
Privacy of data- likely to occur that can impact to some extent.
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Business Case <Insert Project Name> Created/updated 28/08/24
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